NEW YORK ( TheStreet) -- Hewlett-Packard ( HPQ) is rethinking a plan to spin off its personal-computer division, The Wall Street Journal reported, citing people familiar with the matter.

New CEO Meg Whitman and the company's board haven't made a final decision, according to some of the people, the Journal said. Whitman has said she would like to make a decision by the end of the month.

In August, HP, then run by Leo Apotheker, began exploring " strategic alternatives" for its Personal Systems Group.

But new analyses, the Journal said, suggest the company is better off keeping the division. Separating the PC division could diminish HP's buying power with component makers because H-P would lose economies of scale, according to the Journal.

"The analysis is underway now," an HP spokeswoman told the newspaper. "We said we would explore all options and that Meg would make a decision based on the data."

-- Written by Joseph Woelfel

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